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Arkema Finalizes the Divestment of Its Phosphorus Derivatives Business
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
On 3 January 2023, Arkema finalized the divestment of Febex to Belgian group Prayon. Febex specializes in phosphorus chemistry and reported sales of approximately €30 million in 2021, employing 59 people at its Swiss site. This divestment aligns with Arkema's strategy to streamline its portfolio and focus on becoming a pure player in Specialty Materials by 2024, which accounted for about 85.5% of sales in 2021. The Group reported overall sales of around €9.5 billion in 2021.
Positive
Divestment of Febex allows Arkema to streamline its business operations.
Febex reported sales of approximately €30 million in 2021, which contributes positively to Arkema's financial strategy.
Arkema's focus on being a pure player in Specialty Materials by 2024 indicates strategic growth and development.
On 3 January 2023, Arkema finalized the divestment of Febex, a company specialized in phosphorus-based chemistry, to Belgian group Prayon.
Febex is a global player in phosphorus derivatives (high purity phosphoric acid, sodium hypophosphite and derivatives), used primarily in electronics and in the pharmaceuticals industry.Part of the Performance Additives Business Line and with little integration within the Group’s other activities, Febex reported sales of around €30 million in 2021, employs 59 people, and operates 1 site in Switzerland.
Arkema thus continues its dynamic business portfolio management.
Building on its unique set of expertise in materials science, Arkema offers a portfolio of first-class technologies to address ever-growing demand for new and sustainable materials. With the ambition to become in 2024 a pure player in Specialty Materials, the Group is structured into 3 complementary, resilient and highly innovative segments dedicated to Specialty Materials - Adhesive Solutions, Advanced Materials, and Coating Solutions - accounting for some 85.5% of Group sales in 2021, and a well-positioned and competitive Intermediates segment. Arkema offers cutting-edge technological solutions to meet the challenges of, among other things, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders. The Group reported sales of around €9.5 billion in 2021, and operates in some 55 countries with 20,200 employees worldwide.
